Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1887-03-04

Of the Territory Of idaho as Josfotcs:' it ? II
SIC. ], repeals the acts of Feb. ?, 1855,
and Jan. %, 1881.
SEC. 2.-That it shall be unlawful for
any FIRE or life insurance company, ASSOC
citation. corporation, or partnership in
corporated by or under, or organised
pursuant to the laws Of any foreign gov
saernrhent, or any state or territory OF the
United States. or any person or persons
directly or indirectly to take any risks,
or transact any business Of fire or life
insurance in this territory, unless pos
.eessed Of an actual paid mp capitai OF
not less than one hundred thousand
(siOOOOO) dollars.
SEC. st shall be unlawful for any
agent of any fire or life insurance COM
nanv to transact the business OF fire or
life insurance, within !; this territory
unless the insurance company sna'i
have frst. obtained certificate OF au-
thority from the treasurer Of the terri
tory. which certificate shall be issued to
aoy agent of such company whenever
the said company shall have filed with
the treasurer of the territory state
ment sworn to by the secretary, presi-
dent, or manager Of said company
showing:
rrst-The name and locality Of the
company.
,yeoond-The amount Of capital stock.
Third-The capital paid up.
Fomth-The amount Of its assets and
Liabilities.
F1a Net surplus over all liabilities.
StrM-The name Of the attorney or
agent for the territory who shall be
resident thereof, upon whom service OF
civil process in any civil action against
said company may be made.
Sepenth-Receipts and expenditures
during the preceding year.
Sac. 4.-The statement referred 70
in section 8 Of this act shall be renewed
annually in April of each year. The
Grst statement may be made at any time.
SEC. Sit shall be lawful for the
agent Of any company or companies
which have complied with the provi-
sions of this act to procure insurance
through such com panies. 8
SEC. g .--The treasurer Of the terri
tory shall be entitled to the following
fees: For fling statements, one dollar
each. For issuing certificates, two dol
lars each. Each certificate shall be
renewed upon filing each annual state
n,er,t, and each certificate shall expire
upon this last day Of April OF each and
every year. 49, ~
SIC. Upon the written represent
tation of three citizens who are insured
In the company complained OF, or upon
belief of the treasurer that any com
nanv doing insurance business in this
territory. has less than one hundred
thousand dollars paid up, unimpaired
cash capital, it shall be the duty OF tie
treasurer to make such investigation
q mr. REQUIRE such proof as shall be salts
: factory to him, concerning the financial
condition OF such company. Pror'd1d'
however, the certificate of the insurance
officer of any state having an insurance
department, that such company has
Maid M. unimpsired cash capital equal
n one hundred Thousand dollars shall
be accepted by said treasurer as salts
factory. II such company does not
within sixty days after demand by the
: treasurer produce such Certificate. the
: treasurer shall revoke his certificate oil
authority to such company to do BUSH
mesa in this territory. and in the mean
time may withdraw or withhold his
certificate of authority until such certin
cate is produced. Such company shall
nav the expense of such investigation
and upon refusal 30 to do. the certificate
of authority may be withdrawn by the
treasurer. - .a. $3.50. ta
SEC. S.-The treasurer shall collect
from each company transacting an
insurance business in this territory an
annual license of fifty dollars. payable
at the time of fling the first statement
and annually thereafter at the time Of
filing the statement in April of each
year. and before he shall issue his GER
tificate of authority. Blank licenses
shall be issued and signed by the con-
troller of the territory to the treasurer
from time to time as required, and
charged to him. The treasurer shall
make monthly reports on the first day
of each month to the controller OF the
6 number Of licenses issued by him. The
money derived from the sale Of licenses
under this act shall bs paid into the
general fund. Provided, however, thai
nothing contained in this act shall b.
construed to apply to any charitable
secret society, or to prevent the samt
from issuing benefits to it's owl
members. - - 4est- cEE e.